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Oracle 1Z0-1057-21 Exam Syllabus Topics:

Oracle Project Management Cloud 2021 Implementation Essentials Sample Questions:

1. A consulting services company is currently working on a businesstransformation project for your client, which spans multiple years. At the first period close, the consulting services company has recognized revenue and the accounting entry created is:
Dr Unbilled Receivables 40,000
Cr Revenue 40,000
At the end of theperiod, the client is sent an associated bill. What would be the corresponding invoice accounting entry? (Choose the best answer.)

A) Dr Unearned Revenue 40,000Cr Accounts Receivables 40,000
B) Dr Accounts Receivables 40,000Cr Unbilled Receivables 40,000
C) Dr Accounts Receivables 40,000Cr Revenue 40,000
D) Dr Unearned Revenue 40,000Cr Revenue 40,000

2. You have a small project for a period of five months. Your budget amount for each month is spread evenly and is $1000 per month. The first month actual expense is $800 and there is a commitmentfor $600. Now you generate a forecast at the beginning of the second month. Identify the monthly Estimate-To-Complete (ETC) amount that the application would calculate for the remaining four periods, when the ETC generation method includes commitments. (Choose the best answer.)

A) 600
B) 800
C) 1000
D) 900

3. In a Project Draft Invoice preview, quantity (hours) andunit price (bill rate) are shown as fields on the invoice.
Quantity and unit price are then used to calculate the line total, then the total price of the invoice. After the invoice is transferred or created in Receivables, the invoice detail has a quantityof 1, and a unit price equal to the line total. The detailed Unit Price/Quantity does not come through on the Receivables invoice.
Identify the correct statement about details in the receivables invoice. (Choose the best answer.)

A) The project sends the invoice line description and the invoice distributions to Receivables, but not the invoice header.
B) The project sends the invoice header, invoice line description, and the invoice distributions to Receivables.
C) The project sends only the invoice header to Receivables, not the invoice line description and distributions.
D) The project sendsonly the invoice header and invoice line description to Receivables, not the invoice distributions.

4. Which setup option is common to both financial and project plan types?

A) Enable the use of a workflow for managing budget or forecasting status changes.
B) Identify whether the plantype is the default selection when you create budget or forecast versions.
C) Enable the entry of plan amounts in currencies other than the project currency.
D) Manage the options for creating control budgets in Oracle Fusion Budgetary Control.

5. Which two statements are true about the cross-charge method, Borrowed and Lent?

A) This method creates a formal internal invoice.
B) Costs or revenue are shared based on transfer price rules with this method.
C) You must set up the contract business unit to use this method.
D) This method creates accounting entries that move an amount equal to the transfer price between theprovider and receiver organizations within a legal entity.

Solutions: